South Carolina § 40-2-610 Disclaimer.

South Carolina Statutes

§ 40-2-610 — Disclaimer.

South Carolina § 40-2-610

Title 40PROFESSIONS AND OCCUPATIONS

Ch. 2ACCOUNTANTS

This text of South Carolina § 40-2-610 (Disclaimer.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 40-2-610 (2026).

Text

An accounting practitioner or firm of accounting practitioners is permitted to associate his or the firm's name with compiled financial statements as defined by SSARS, provided that a disclaimer is used that complies with the most recent version of SSARS and that a statement in the report provides: "I / we have not audited or reviewed the accompanying financial statements, and I am / we are prohibited by law from expressing an opinion on them".

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An accounting practitioner or firm of accounting practitioners is permitted to associate his or the firm's name with compiled financial statements as defined by SSARS, provided that a disclaimer is used that complies with the most recent version of SSARS and that a statement in the report provides: "I / we have not audited or reviewed the accompanying financial statements, and I am / we are prohibited by law from expressing an opinion on them".

Legislative History

HISTORY: 1996 Act No. 453, SECTION 1; 2004 Act No. 289, SECTION 1; 2019 Act No. 68 (H.3785), SECTION 8, eff May 16, 2019. Formerly Code 1976 SECTION 40-2-340, renumbered and amended by 2022 Act No. 174 (S.812), SECTION 1, eff May 16, 2022. Effect of Amendment 2019 Act No. 68, SECTION 8, rewrote the section, removing the existing boilerplate language required and instead providing that such disclaimers must comply with certain national standards. 2022 Act No. 174, SECTION 1, substituted "SSARS, provided that a disclaimer is used that complies with the most recent version of SSARS and that" for "Professional Standards for Accounting and Review Services, provided a disclaimer is used that complies with the most recent version of the statement on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants and" and made nonsubstantive changes to the statement.